Replies to post #157393 on Mr Cooper Group Inc (COOP)

[kala777]

I'm going to disagree and suggest that exiting CH 11 with the creditors and preferreds paid off would be excellent for the common shareholders. Then Weil would be gone and the EC could continue to press their legal cases and any judgements in their favor would then flow to the commons. Can you imagine the boost in common share price if any future winnings would be going to them alone as well as the public seeing the preferreds of this "zombie" stock being paid in full!

Go WaMu!

[SlyOne]

Yes, WMI wants the SJ! in its favor, of course.

The reason is then they will have the cash to go after FDIC and JPM, legally. Right now, WMI does not have a lot of cash for a prolonged battle.

With SJ, The 3/26 resolution date can be moved back.
1.WMI may not be in BK at that time.
2.A settlement may be offered be/ WMI has cash to fight.
3. EC lawyer wants more logged hrs on this case.
(They started 2/11, dont expect anything of substances from them until and after 3/11. Right now, they are collecting info-- DD. And, playing defense)

If SJ is in favor, this stk will be red hot between 3/11 and 3/26.
If Sj is not in favor, then look for JPM/FDIC to low ball again and try to resolve using minimal funds by 3/26. The WMI CEO contract also expires on 3/26.

[Lawrence 147]

I am not bashing and appreciate the opportunity to respond. He double toothpicks yes we want the SJ now and here is why. With A>L the EC would be in-charge of the legal proceedings. They would also have a strong say in the exit plan. Whit the EC in the drivers seat and litigation in the wings the FDIC and JPM would be far more likely to settle than being able to extend things out further. Lets look at the billings so far it would appear that Wiel has been working as hard for JPM as they have for WMI, completely disregarding equity and just trying to get the bond holders paid. They have said they do not wish to go through expensive litigation to recover money for the equities, what kind of representation is that? At this point representation is far more important than keeping A<L. Wiel has done a good job in the early stages and it opened the door because of the job they did but this is like fighting a war, you just don’t do it compassionately and expect to win. War is an all or nothing proposition because of its ugly nature. If you fight a war ½ way then expect to loose as your enemy will always be there ready to start things back up once they recover. A boxer that wants the title does not have compassion nor animosity towards his opponent but will take them out if they have them on the ropes.